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In South Africa, long-term insurers experienced some strains during the financial crisis, but there were no crisis-related failures. The capital markets suffered sharp declines but no systemic failures. The three standards assessments have found the regulatory system fundamentally sound. The...
Persistent link: https://www.econbiz.de/10011244153
The Financial System Stability Assessment found the financial sector to be vibrant, resilient, highly competitive, and well supervised and regulated. Stress tests showed credit institutions and insurers to be highly resilient to a variety of shocks. It also found a high degree of observance of...
Persistent link: https://www.econbiz.de/10011244251
This technical note discusses key findings of the assessment of Insurance Core Principles (ICP) for the reinsurance … industry for Switzerland. It reveals that the Swiss reinsurance market is dominated by three large players with a strong … international presence. The reinsurance industry comprises 20 professional reinsurers and 50 reinsurance captives with gross …
Persistent link: https://www.econbiz.de/10011244291
Although progress has been made in strengthening the Swiss economy, systemic risks posed by large banks as well as revisions to the macroprudential framework are still in train. The authorities welcomed the too-big-to-fail (TBTF) legislation and intervention of the Swiss National Bank (SNB) on...
Persistent link: https://www.econbiz.de/10011244540
This paper presents assessment results for the current state of the implementation of the Basel Core Principles for Effective Banking Supervision (BCP) in Spain. It found that significant changes have occurred in Spain since the last Financial Sector Assessment Program. The most serious has been...
Persistent link: https://www.econbiz.de/10011244598
This paper discusses key findings of the Detailed Assessment of Observance of International Association of Insurance Supervisors (IAIS) Insurance Core Principles for the United States. Most U.S. insurers write primary insurance on U.S. risks. The U.S. market is characterized by low market...
Persistent link: https://www.econbiz.de/10011244770
This report presents a Detailed Assessment of the Observance of the Insurance Core Principles Report on Jersey. Other than the international business, most cover is obtained from insurers based overseas by the large insurance broker community on the island. There is no ombudsman and no...
Persistent link: https://www.econbiz.de/10011244882
In this study, the economic developments and policy responses of Trinidad and Tobago after the crisis is reviewed. Policy recommendations are used to strengthen the legal and regulatory framework. According to the IMF’s financial system stability assessment (FSSA), there were critical...
Persistent link: https://www.econbiz.de/10011244894
The staff report highlights that the insurance sector in Sweden is well developed and mature. The captive insurance segment is mainly driven by tax advantages. This assessment provides an update on the significant regulatory and supervisory developments in the insurance sector of Sweden since...
Persistent link: https://www.econbiz.de/10011244907
The insurance industry in Australia has weathered the global financial crisis well and was resilient to the catastrophic events in 2010/11. The insurance industry is mature but relatively small compared to the banking sector. Assets held by insurers represented only about 8 percent of the...
Persistent link: https://www.econbiz.de/10011245056